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ohio mini cobra 2
Benefits & Compensation
ohio mini cobra 2
Exchange ideas about health plans, retirement, work/life benefits, and employee assistance.
My insurance agent said we don't know how many months we should deduct form the severance pay because we don't know when the guy will find another job. If we deduct 9 months of insurance premium from
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ohio mini cobra 2
posted at 4/29/2009 11:44 AM EDT
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Posts: 15
First: 11/14/2001 Last: 4/29/2009 |
My insurance agent said we don't know how many months we should deduct form the severance pay because we don't know when the guy will find another job. If we deduct 9 months of insurance premium from the severance pay and he found a job in 3 months, do we have to pay him back the remaining balance that we take out? |
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ohio mini cobra 2
posted at 5/1/2009 6:32 AM EDT
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Posts: 2146
First: 2/15/2006 Last: 9/14/2011 |
I agree with KPowers. If he stopped COBRA, you would need to refund the premium that he paid.
I really really can't stress how bad of an idea this is. Either agree to cover up to x months of COBRA in his severance agreement and make the payout smaller OR don't take out any money for COBRA and let him make the decision. But I would NOT take out specific premiums for a specific amount of months...because it will get even stickier if anything changes later. |
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ohio mini cobra 2
posted at 5/1/2009 9:54 AM EDT
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Posts: 35
First: 8/3/2004 Last: 6/20/2011 |
I agree with rrupert.....do not take out the money from his severance.
It is up to that former employee whether they want Cobra or not. Also the former employee would have to confirm that he is eligible for the Cobra Subsidy before you can do anything. The Employer can't lower their tax payment by the 65% subsidy until they receive payment for that month's Cobra. |
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